Navios Maritime Partners (NYSE:NMM) Cut to “Hold” at Wall Street Zen

Wall Street Zen lowered shares of Navios Maritime Partners (NYSE:NMM) from a buy rating to a hold rating in a research note published on Saturday.

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Navios Maritime Partners in a report on Monday, December 29th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company currently has a consensus rating of “Hold”.

Navios Maritime Partners Price Performance

Shares of NYSE NMM opened at $62.09 on Friday. The firm has a 50-day simple moving average of $55.61 and a 200-day simple moving average of $50.59. The stock has a market capitalization of $1.84 billion, a price-to-earnings ratio of 7.11 and a beta of 1.38. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.61. Navios Maritime Partners has a 52 week low of $28.37 and a 52 week high of $63.47.

Navios Maritime Partners (NYSE:NMM) last posted its quarterly earnings results on Tuesday, November 18th. The shipping company reported $2.83 earnings per share for the quarter, topping analysts’ consensus estimates of $2.55 by $0.28. The firm had revenue of $346.92 million for the quarter, compared to analyst estimates of $334.64 million. Navios Maritime Partners had a net margin of 20.04% and a return on equity of 8.69%. Navios Maritime Partners’s quarterly revenue was up 1.8% on a year-over-year basis. During the same period in the previous year, the business posted $3.15 earnings per share. On average, equities analysts predict that Navios Maritime Partners will post 12.64 earnings per share for the current fiscal year.

Navios Maritime Partners Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, February 12th. Stockholders of record on Monday, February 9th were issued a dividend of $0.05 per share. The ex-dividend date was Monday, February 9th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.3%. Navios Maritime Partners’s dividend payout ratio (DPR) is currently 2.29%.

Institutional Investors Weigh In On Navios Maritime Partners

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Merrion Investment Management Co LLC lifted its stake in shares of Navios Maritime Partners by 0.4% in the 3rd quarter. Merrion Investment Management Co LLC now owns 65,250 shares of the shipping company’s stock valued at $2,940,000 after purchasing an additional 250 shares during the last quarter. Raymond James Financial Inc. raised its holdings in Navios Maritime Partners by 5.6% in the 3rd quarter. Raymond James Financial Inc. now owns 7,192 shares of the shipping company’s stock valued at $324,000 after buying an additional 380 shares during the period. Moors & Cabot Inc. lifted its position in Navios Maritime Partners by 0.8% in the third quarter. Moors & Cabot Inc. now owns 92,682 shares of the shipping company’s stock valued at $4,175,000 after buying an additional 750 shares during the last quarter. Allworth Financial LP purchased a new position in Navios Maritime Partners during the second quarter worth about $47,000. Finally, BNP Paribas Financial Markets increased its position in shares of Navios Maritime Partners by 25.4% during the second quarter. BNP Paribas Financial Markets now owns 7,706 shares of the shipping company’s stock valued at $290,000 after acquiring an additional 1,559 shares during the last quarter. Institutional investors and hedge funds own 62.74% of the company’s stock.

About Navios Maritime Partners

Navios Maritime Partners L.P. (NYSE: NMM) is a dry bulk shipping company that owns and operates a fleet of Capesize, Panamax and Supramax vessels. The partnership charters its vessels under medium- and long-term contracts to a diverse group of charterers, providing seaborne transportation for major bulk cargoes such as iron ore, coal, grain and fertilizers. Through this asset-light model, Navios Maritime Partners seeks to generate stable cash flows while retaining flexibility to capitalize on market opportunities.

Formed in November 2007 and sponsored by Navios Maritime Holdings Inc, the partnership leverages the operating platform and commercial management capabilities of the Navios group.